Union City Industrial
For Sale
$950,000
706 7th St, Union City, NJ 07094
Industrial warehouse with ground and second floor space.
Property Size3,800 SF
Price / SF$250
Days on Market164
Property Features for 706 7th St
General Information
Standard status
Active
Size
3,800 SF
Property subtype
Vacant-User
Amenities
+3,800 SF warehouse featuring approximately 13' ceiling heights and 300 AMP electrical service, accommodating a wide range of light industrial, storage, manufacturing and contractor uses.
Existing curb cut provides valuable on-site vehicle access/parking, a highly limited amenity in Union City's dense urban industrial market.
Strategic Last-Mile Location – Conveniently positioned near major regional thoroughfares and Lincoln Tunnel access, providing efficient connectivity to Manhattan, Hudson County, and Northern NJ.
Building Details
Building Size
3,800 SF
Year Built
1900
Listed By:
Chris Gerena · License #License(s): NJ: 1864309
(201) 742-6173
Source:
Marcusmillichap
Added: Mar 26
Changed: Sep 5
Last Checked: Sep 5 at 4:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Chris Gerena
Investment Insights
Based on property information with market context.
This industrial warehouse in Union City, NJ, offers a total of 3,500 square feet of space. The ground floor provides 2,500 square feet of warehouse area with a ceiling height of 14 feet. An additional 1,000 square feet is available on the second floor. The property is equipped with a 3-phase electrical system.
Key Highlights
- 2500sf ground floor warehouse space
- 1000sf second floor space
- Benefit from 14’ high ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$80,275
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,605,500
$1.6M
Cap Rate 7%
$1,146,786
$1.1M
Cap Rate 9%
$891,944
$891.9K
Market Conditions
NOI Build-Up for 3,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$123.6K $32.52/SF
− Vacancy
−$8.9K −$2.34/SF
EGI
$114.7K $30.18/SF
− OpEx
−$34.4K −$9.05/SF
NOI
$80.3K $21.12/SF
Area
Hudson County, NJ
Vacancy
7.20%
Lease Rate
$32.52 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,605,500
Cap Rate 7%
$1,146,786
Cap Rate 9%
$891,944
Alternative Uses
Best Use
Warehouse
$1.38M
$1.20M – $1.61M
NOI $96,321 @ 7.0% cap · market cap 10.14%
Second Best
Industrial
$1.15M
$1.00M – $1.34M
NOI $80,275 @ 7.0% cap · market cap 8.45%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,928
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07094, NJ
22,181
Population
9,109
Households
2.4
Avg Household Size
38
Median Age
63%
College-Educated
95%
High-School Grad
5.8 sq mi
ZIP Area
3,824
Density / Sq Mi
$134,746
Median Household Income
$77,447
Median Earnings
$2,197
Median Rent
$557,800
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse with ground and second floor space.
Where is this warehouse located?
The property is located at 706 7th St Union City, NJ.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 2500sf ground floor warehouse space; 1000sf second floor space; Benefit from **14’ high ceilings**
